#24 Mini-pod: What’s a banking licence and how does it affect how much of my money is protected?
It’s important to know how banking licences work because they mean that some banks or building societies that appear to be separate are actually connected – and that has an impact on how much of your money FSCS can protect. We explain it all in this short mini-pod.
When this podcast was recorded, the deposit limit was £85,000. From 1 December 2025 it is £120,000 and the temporary high balance has risen to £1.4m. See our New Deposit Protection Limit page for details.
Useful links
Use our Bank & Savings protection checker.
Visit our banking licences page.
See how we protect the money in your bank, building society or credit union.
Transcript of episode 24
Read the transcript of episode 24 here (PDF 54KB).
The content of any discussions shouldn't be taken as an indication of future FSCS policy positions. The views expressed by guest speakers are their own and don't reflect the views of FSCS.